Indiana’s housing market appears to be experiencing an increase in both homes sales and median sale prices.
Mark Brown, the Senior Vice President at the Indiana Association of Realtors, says statewide year-to-date homes sales are up 12 percent compared to 2011, and the average home sold costs about three percent more.
“I think what we are seeing is a recovery from a very very difficult period of time, that is showing signs of moving in the direction of improving prices and improving demands for home,” he says.
Tim Mason owns RE/MAX Midwest Real Estate Group and says low interest rates are fueling the market, allowing buyers to pay less and sellers to get what they want because of the favorable financing.
“Its not only a buyers market,” he says, “and I am not even going to call it a sellers market either because with what we have going on is, for a while it was a buyers market, but what it’s doing is making that transition when you have more sales, you have supply and demand situation.”
The average price on home sale in Indiana has increased by 3 percent in the last year.